Government and Economy
It's when the general cost of living goes up
What is Inflation?
A close inspection of a tax return by the IRS
What is a Tax Audit?
A type of insurance that provides money and medical benefits to employees who get hurt or sick because of their job.
What is a workers’ compensation insurance?
A financial agreement where you make regular payments to a company, and in return, they provide money to your chosen person (like a family member) if you die.
What is life insurance?
A business organization that generates money/profit/revenue.
What is a for-profit business?
The percentage of people looking for jobs but don't have one.
What is the Unemployment rate?
When you are not obligated to pay taxes for certain reasons or purchases.
What is a Tax Exemption?
The ability to manage your job responsibilities and personal life in a healthy and satisfying way.
What is a work-life balance?
A type of health coverage that helps pay for big or serious medical expenses, like surgeries, hospital stays, or emergency care.
What is a major medical insurance?
A person or company that helps connect buyers and sellers or acts as a middleman in a business or financial transaction.
What is an intermediary?
When countries are more connected and dependent on each other through trade, travel, cultural exchange, and loans.
A table that the government gives you that shows you how much tax you have to pay based on your income.
What is a Tax Table?
A school funded program that gives students part-time jobs to help pay for their education while they’re still in school
What is a work-study program?
A type of insurance that helps pay for care services like help with bathing, dressing, or eating if you become unable to take care of yourself due to age, illness, or disability.
What is a long-term care (LTC) insurance?
An economic system where businesses and individuals make decisions about buying and selling based on supply, demand, and competition with little government control
What is a market economy?
A period of time in which a country's economy declines.
What is a recession?
A report that contains information used to calculate how much taxes are owed by the taxpayer.
What is a tax Return?
A type of job where a worker is paid based on the number of items they make or tasks they complete.
What is piecework?
A medical service that will not be covered by your insurance plan.
What is an exclusion?
When you buy and selling goods or services using a smartphone, tablet, or other mobile devices.
What is m-commerce?
Federal program that helps out economically for the retired, extremely ill, or other valid reason that the government approves.
What is the Social Security Program?
When you delay paying taxes on money you earn or invest until a later time, usually when you withdraw it.
Tax deffered.
The amount of people over the age of 16 who are working, looking for jobs, or those who are able to work.
What is the labor force?
A government agency that protects bank customers by insuring their deposits up to a certain amount if the bank fails.
What is a Federal Deposit Insurance Corporation (FDIC)?
A big company that operates and sells products or services in multiple countries around the world.
What is a multinational corporation?